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republicans are giving up their fight to tie the debt ceiling to spending cuts. will that make a deal easier? what does it mean for your taxes? one influential congressman will join us and give us answers. ♪ [ male announcer ] don't just reject convention. drown it out. introducing the all-new 2013 lexus ls f sport. an entirely new pursuit. >>> another difficult day for boeing shareholders. shares are still under pressure. it's becoming clear the quick fix that boeing had been hoping for over its 787 dreamliner problems is becoming much less likely. fill lebeau has the latest on this. not a good situation at all for boeing. >> it's tricky. they still don'tfor the two inc. they have to peel back the onion further. i have had people saying what are they doing at boeing? are they working with the ntsb? a lot of it is centered around the everett factory, where the dreamliner is built they are out there doing tests, working in teams. i'm told it's hundreds of employees working on this 787 problem. they're not in one central location, but spread out throughout the boeing facility. boeing is tapp
. >>> congress gets back to work with the debt ceiling now a priority. kyla campbell has more with the details on their proposal, kyla campbell? >> reporter: they want to increase the debt ceiling without simultaneous budget cuts but they have a not so hidden agenda so the u.s. could focus the pressure on the senate to pass the first budget in nearly four years. this would take the debt ceiling issue off the table for now but other debates are coming in the weeks ahead. with the fiscal cliff, they have decided to put it off for months and also the current budget expires at the end of march without a spending plan in place, a partial government shut down is possible. house members are scheduled to vote tomorrow and democrats in the senate are on board with it. they are talking about it regarding the debt ceiling when i see you next, kyla campbell, ktvu channel 2 morning news. >> on our website as well, www.ktvu.com. >> i'll take that, including beyonce, she sang the national an them. >>> they are hoping to be led to the suspect involved in the robbery. three people were able to escape from the
are not hiking the debt ceiling unless you make these cuts now. we have over $16 trillion in debt. we can't afford it. i don't want to have this conversation every couple of months. do your job and barack obama, hold them accountable. >> neil: there is this thing about double treatment that is not quite the same when it comes to blaming republicans for being obstructionists by not wanting to increase the debt ceiling when the media didn't do that when every major democrat, including a then senator barack obama did the same thing seven years ago. >> you can't expect the media to do the job they are supposed to do. they won't hold the republicans and democrats equally accountable. so the g.o.p. needs their own marketing and p.r. team -- >> neil: i think they are running from their own shadow. they need more time to get this set and the prerogatives. but to the president, i'm sure, it sends a message, weak, weak, weak. >> they are under the impression, if they give an inch, the president will say, they are doing their best. this is not how it works. this president compromises when it's in hi
on the debt ceiling, backing onshore flow a requirement to cut $1 for every dollar raised. >> for us to have a debate about spending and debt we've got to have a he can to us beyond budget and what we're going to do to achieve a balanced budget over time. >> a great opportunity for us. in our budget that we will pass, we will have tax reform which many of my republican colleagues like but it's going to include revenues. >> the house is expected to approve the debt limit increase tomorrow. >>> the super bowl will be in new orleans, but police are getting ready for potential problems in san francisco. they arrested a dozen people in the mission district sunday as fans celebrated the 49'ers win in atlanta. most of them were for public intoxication. there were arrests for dui, assault and an outstanding warrant, no reports of vandalism. >>> not to get ahead, but why not? it's worth noting more than a dozen cities had multiple sports championships in a single year. but since super bowl era, only four. baltimore did it in 1970. pittsburgh in 1979. new
off a requirement to cut $1 of spending for every dollar the debt ceiling has raised. it's a move the president has demanded. >> i do believe it is a recognition of political reality. i think we realize the president won the election. >> reporter: but republicans on capitol hill are not voting to raise the debt ceiling without getting something in return. they say in order to approve a highe debt limit, they want senate democrats to do something they haven't done in four years -- pass a budget. >> for us to have a debate about spending and debt, we've got to have the focus be on a budget and what we're going to do to achieve a balanced budget over time. >> reporter: senate democrats view the vote as an opportunity to raise more money for taxes. >> it's going to be a great opportunity for us. in our budget we lift budget reform which many of my republican colleagues like, but it's going to include revenues. >> reporter: the house is expected to approve the debt limit increase tomorrow. no dollar amount specifically is in the bill, but the legislation is expecte
's victories will be only partial. >> reporter: republicans are offering a compromise on the debt ceiling, house g.o.p. members are backing off a requirement to cut $1 of spending for every dollar the debt ceiling is raised. it's a move the president has demanded. >> i do believe it is a recognition of political reality. we realize the president won the election. >> reporter: republicans on capitol hill are not voting to raise the debt ceiling without getting something in return. they say in order to approve a higher debt limit, they want senate democrats to do something they have not done in four years, pass a budget. >> for us to have a debate about spending and debt, we've got to have the focus be on a budget and what we're going to do to achieve a balanced budget over time. >> reporter: senate democrats view a budget vote as an opportunity to raise more money through taxes. >> it's going to be a great opportunity. in our budget that we will pass we'll have tax reform, which many colleagues like but it will include revenues. >> reporter: the house i
off a requirement to cut $1 of spending for every dollar the debt ceiling is raised, a move the president has demanded. >> it's believe it's a recognition of political reality. we realize the president won the election. >> republicans on capitol hill are not voting to raise the debt ceiling without getting something in return. they say in order to approve a higher debt limit, they want senate democrats to do something they have not done in four years, pass a budget. >> for us to have a debate about spending and debt we've got to have the focus be on a budget and what we're going to do to achieve a balanced budget over time. >> senate democrats view a vote as an opportunity to raise more money through taxes. >> it's going to be a great opportunity for us, because in our budget that we will pass, we will have tax reform which many of my republicans like but it will include revenue. >> the increase will likely happen tomorrow. >>> one other provision of the debt limit vote is either chamber of congress fails to pass it, the members will not
decided not to use the debt ceiling as a bargaining chip in the fight to cut spending the the vote including a provision requiring congress to approve budgets and withholding pay for lawmakers until that happens. urn the legislation, they suspend the debt ceiling through may 18th, and congress raises the by whatever debt was incurred at the time. i don't know how you do that. just expand the ceiling. just not going to pay the credit cards. we don't care. meanwhile, as the dead line approaches, there's a chance the tax refund could be at risk. joining me is the managing direct for wealth health financial planning. rich, great to have you on the show. here's the deal. so congress has enough money to go through february 15th, mid february, about the time everybody starts trying to get the tax refunds. they file taxes. now, i know you are against refunds, but do you think it's possible they delay refunds? >> i'm hopeful it's not. i think the reality is congress will do the right thing. possibly suspend the debt ceiling, allow for, you know, lenders to get paid both, you know, people ho
spending cuts in exchange for raising thehe debt ceiling-- at least for now. it was partly a recognition that multiple showdowns over the debtcb and spending have hurt the g.o.p.'s standing with voters. a cbs news poll released lastal week found americans trust the president over congressional econ republicans to handle thea republic economy by 15 points.r john thune is a republican senator from south dakota. was this what the republicanrepublican party saying we're going too operate a little differently in a second president obama term?ell, i thi >> well, i think -- i do believe it's a recognition of politicalde reality. the pre we realize the president won the election and i -- so i think to some degree it was a recognition that for us to have a debateav about spending and debt we'vewe got to have the focus be on a and wha budget and what we're going to achieve a balanced budget over time. >> pelley: and that's why thee republicans have attached a caveat to their debt ceiling bill. they want senate democrats to do something they haven't done since 2009: pass a budget putting them on t
and two, the automatic cuts, they call the sequester that are part of the 2011 debt ceiling deal. they want to address those, because they think that they can use those more efficaciously without harming the economy than with the debt ceiling kicking it down the road a few months and say that is a nuclear option kind of thing in the end and getting the president to yield and accept some cuts now that have hanging over his head, t president doesn't want that and. >> megyn: forget this is the job you were hired to do, the only way that you might get senate democrats to vote on a budget they haven't done in almost four years is to hit them in the pocket book. >> well, and a lot of senators are very rich. a lot of millionaires in that club and mark warner probably won't cry any tears losing the weekly check. for some of them that will hurt a lot and this is the important part, it would be humiliating, embarrassing to get your pay docked for not doing the job. the senate will not want to pass legislation like that, since it's attached to the debt ceiling and the president made a big d
-for-one cuts that come from the boehner rule for any long-term debt ceiling extension system of if we look at that, it means that in 10 to 15 years, with very little help from the democrats, we can achieve a balanced budget which is much better than even the 23- to 27 -- better than the 23 years to 27 years and obviously better than the never balancing budget obama and the democrats have proposed for the last four years. so you look at all the data out there. all the public opinion polls say that the american people think we're spending too much money. that the american people think that we are taxing too much. but the problem is that as republicans, i think this goes to what representative huelskamp just said, as republicans we have been seen as the party of big business. and we should never be the party of big business. we should be the party of individuals. the party that helps individuals have a fair share. we have a system that is unfair to small businesses, to individuals, we have a tax system that is unfair, we have a regulatory system that is unfair, and when republicans once again
would not apply any longer. dollar for dollar cuts in raising the debt ceiling and those are a couple of things that have guided republicans in the last two years or last decade and that raises some real flags for me. but i think it's not republicans that are looking for relevance, i think it's washington as a whole looking for relevance. we are running trillion dollar deficits and would be the fifth straight year. and the reality is s and p has downgraded us. moody's has sent a notice and we are still acting as if it is 1995 or 2000 where we aren't run ing trillion dollar deficits. but i hope it's not the case, but if in the meantime with all these games as we move around the messaging and try to figure out resequencing, if moody's comes through and follows in on their threat, that u.s.a. is not worthy of a.a.a. triple rating, that is the reality. i hope that doesn't happen. i don't know how long we can continue to go. i don't think we have 10 years to actually somehow find a path to ball answer. i think we need to -- to balance. i think we need to move more quickly. is there a 10-ye
of representatives faces a vote to increase america's debt ceiling. pending legislation raises the debt ceiling by roughly $300 billion to $400 billion. what protection does america get in return? are there any spending cuts? no. are there policies that spur economic growth in resulting revenue increases? no. does this proposal help fix in any way the trillion dollar deficits that threaten america with financial ruin? no. mr. speaker, i can only speak for me. i will not vote to raise the debt ceiling unless significant efforts are made to fix the underlying problem of deficits and accumulated debt that force debt ceiling votes and risk america's future. i will not vote to raise the debt ceiling unless first congress passes a substantive balanced budget constitutional amendment that solves the debt problem for future generations or, second, we implement sizable spanneding cuts that help get our financial affairs in order. i take this stance full well knowing the adverse economic effects of a failure to raise the debt ceiling, but also knowing, mr. speaker, that those affects pale in comparison t
, is that having broken the link between specific spending cuts and specific dollar increase in the debt ceiling it becomes easier for congress to shift the fight over spending and taxes and revenue on to different ground. of course, the quester and the -- the continuing resolution to fund the government, but you're hearing some of both parties saying they might even accept the sequester. some of the stakes appear to be fading from these disagreements that paralyzed washington at the end of last year. >> when i heard this original deal profrksd i thought it was on the condition that the senate eventually congress had to actually pass a budget finally. >> that's still on the table. >> that is still on the table. a little bit less clear is the fate of the idea that somehow pay would be suspended for members of congress if they don't pass a budget. >> right. >> there are questions about the constitutionality of that provision, but the entire provision is to try to force the senate to force a pass a budget, and the senate intends to do that. >> that's significant because it's written within the law
million in spending cuts. republicans have to get their acts together to negotiate better on the debt ceiling and other things. neil: what is the overture on the republican party? saying that they are going to push for a three-month extension? >> sure, what i read in it was from a pr standpoint in saying that gets all is a bad idea and will hurt the economy. and for economy a year and a half ago. republicans are saying that maybe it's a smart move in the sense that they want to say enough of this pr stunt. let's take the falls off the table but let's get to the real essence of spending cuts. the president is going to keep coming back. but it's more revenue. but it's more tax increases. we knew that in the campaign. neil: there is this paraphrase between the rich and the poor that you alluded to. maybe he has not done this. >> i don't think he is done on more tax increases. neil: more deductions? >> deductions and perhaps more rate hikes. this was alluded to during the fiscal cliff talks by various democratic leaders. at one point john boehner and the president talking about $1.2 trill
to the front line. that is the capitol. we have the latest as the house prepares for a vote on the debt ceiling. david: congress heading back to work today following the president's inauguration speech yesterday which a lot of the members of the republican party saw as a poke in the eye to them. >> the first order of business for congress, the looming debt ceiling. rich edson live on capitol hill. hi, rich. >> hey, lauren, we'll get that vote tomorrow in the house to extend the debt ceiling to the middle of may. when it comes to a longer term debt solution, longer-term debt ceiling solution and when it comes to taxes and spending the parties are far apart as they always been a day of a the president's inauguration and one which both parties have a very different take on the president's address. >> people can criticize president obama about a lot of things but not his ability to communicate and i think he communicated to the american people a message of hope, a message of action, and i liked it very much. i, we should move past the name-calling phase. >> one thing was pretty clear from the p
as a matter of fact on wednesday. they are going to vote on increasing the nation's borrowing limit the debt ceiling as it is called. okay wednesday they are going to do that vote. the senate pass a budget with spending cuts in it. that is when the kum ba yah the happy talk here on capitol hill may go back to a little more firstier talk. shep? mike emanuel on the hill tonight. perspective what lies ahead for president and the congress. dana perino the white house press secretary for president george w. bush. that's coming up from the journalists of fox news on this monday fox report from the nation's capitol. inauguration night. martin luther king jr. day. it's great to have you with us. just like that. right in the old bucket. good toss! see that's much better! that was good. you had your shoulder pointed, you kept your eyes on your target. let's do it again -- watch me. just like that one... [ male announcer ] the durability of the volkswagen passat. pa down something he will be grateful for. good arm. that's the power of german engineering. ♪ back to you. [ bop ] [ bop ] [ bop ] you can
their lives around. rich: the house tomorrow will vote to extend the debt ceiling to may 19, as long as the senate and house both pass a budget. if not, this bill prescribes that it gets held back is not. dagen: thank you. president obama mentioned just about everything from gun control to climate change in his inaugural address. one thing was almost missing, though. jobs. joining us with more is steve moore. he laid out his agenda, a whole host of things. why not focus on jobs. does he think that this recovery is so on track that jobless rate will continue to fall, steve? >> i was struck by that also. in the whole speech, he did not talk about jobs. he did not talk about private business and entrepreneurs. it was a very pro-government speech. the president has a big challenge ahead. we still have a near 8% unemployment rate in this country, chipolte, over the last four years of this suppose it recovery. i do not think he mentioned the word jobs in that entire speech. dagen: three times. we did a quick count. >> i stand corrected. dagen: if you go through the list of things that he c
. what is the latest? >> reporter: as part of raising the debt ceiling the house republicans will demand that the senate pass a budget with spending cuts included and will try to force getting it done by april 15th. a short time ago the top senate republican issued this call to action. >> and so it's my hope that the president will finally be willing to do what republicans have been asking him to do since his first inauguration four years ago and that is to work with us on identifying durable solutions to the problems that we can only solve together. to put aside those things we know we can't agree on and focus on what we can agree on. and we should start with spending and debt. because if we don't get a handle on that nothing else matters. >> reporter: bottom line republicans recognize this raising the debt ceiling issue isn't a very good one for them. working on deficit and spending budget is better for them. >> reporter: what do democrats say about passing a budget today. >> reporter: chuck schumer said the senate would pass a budget this year. the battle will be over spending cuts an
is that a two month hiatus, which is what they will get by giving the debt ceiling increase for that much longer, i will allow them to say to a majority of the american people, this is where they listen. there needs to be cuts in this budget. it's too big, the deficit to my commanding gauges the economy. melissa: they were you are. don't move. i want to talk to you about what kneele just brought up. the debt ceiling debacle and those comments from chuck schumer. all of that after the break. the staggering death toll in the algerian hostage crisis keeps rising. reports say more than 80 people were killed including three americans. now some question why the algerian government acted the way it did. we have details on the latest developments. more "money" coming up. don't go away. ♪ [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it. mortgage. marrie
forward this week and we're going to try to extend the debt ceiling by a few months to give the congress and the president more breathing room. to address a long-term balanced budget over the next ten years. we have automatic spending cuts coming in place as part of the sequester. spending cuts in march and then the government funding mechanism the end of march and that will give awes opportunity to pass the budget in the house, pass the budget in the senate and recognize those two. >> greta: you'd vote for increasing the debt ceiling. >> par coming this week, attached to it, pass a budget by april 18th otherwise members wouldn't receive any pay. it's unfortunate that we have to take that step, but the senate hasn't passed a budget now if four years and we need them to outline their priority. >> greta: or you're no? >> yes. >> i'd be hesitant to raise the debt ceiling or just put it on the side for right now. we need real solutions. what he's been outlining here are the true problems that we face today. something, as much as i was in awe seeing the president today and hearing his beautif
-month extension of the debt ceiling as a ploy to put the political pressure on the senate democrats to pass a budget, they may not even vote for this. so he has his work cut out for him to make sure that his caucus or at least the vast majority of it is on board for this. and for the senate democrats, if this three-month extension passes, it does move the spotlight, it does put the heat on them and they haven't passed a budget in years, and you know, it goes to the senate and it goes to senate majority leader harry reid and we'll see what they do. but first, john boehner has to get his folks on board in the house. >> andy, carrie, good to see both of you. thanks. >> thank you. >>> boy, it was a stunning way to cap off the inaugural festivities. the president and first lady sharing a dance at the inaugural ball of course, to "let's stay together" performed by jennifer hudson. she sang this song earlier at the commander-in-chief's ball. mrs. obama wore that amazing red dress by jason wu. her outfit will now go to the national archives. she actually took time out of her night to tweet just dan
's debt ceiling through may 19. that vote is set for tomorrow. congressman paul ryan, last year's republican vice presidential nominee, said today republicans want to shift the focus to enacting a budget, with major spending cuts. the senate is going on four years now for not having passed a budget. we think this gives us the time we need in this nation to have a good, thorough vigorous and honest debate about what it takes to get our fiscal house in order and about how to budget. families budget. businesses budget. our federal government should budget. >> ifill: the bill also says if lawmakers don't enact a budget with spending cuts, they won't be paid. in the senate, democratic majority leader harry reid declined to comment on that provision, but he did say that, in general, he welcomes the house move. >> i'm very glad that they sent us up a clean... they're going to send us a clean debt ceiling bill. the other stuff on it will athat when we need to. i'm glad we're not facing crisis here in a matter of a few days. >> sreenivasan: president obama said he wanted a longer-term ex
of this debt ceiling, and the president says we don't want to use that any more as a kind of point of emphasis, and i think that is a mistake, because what it means is we're never going to get serious about the debt unless we use the debt ceiling as that point where we make a deal to reduce the spending. martha: very distressing. matt, steve, thank you very much, guys. we'll see where this goes. we'll see you soon. >> thanks. >> thank you, martha. bill: 13 minutes before the hour and just about everyone is watching their taxes go higher. why is a famous protkpwoefrl and a pretty good one at that, why is old lefty apologizing for that. sportscaster jim gray talked to him last night and we'll talk to gray in a moment. martha: how country mikes sensation taylor swift is coming through for one devoted fan in a big way. ♪ [singing] [ woman ] ring. ring. progresso. your soups are so awesomely delicious my husband and i can't stop eating 'em! what's...that... on your head? can curlers! tomato basil, potato with bacon... we've got a lot of empty cans. [ male announcer ] progresso. you gotta taste th
to the fact that they've moved off the fight on the debt ceiling a few months. he believes he can deal with them and, as you heard, get some kind of grand bargain. i need to be convinced of that, wolf. >> part two of your interview coming up later. >> he tells us, how does he know when the president is mad at him. >> interesting to see that. thank you. good work. >>> in a moment, the latest on the breaking news we've been following a shooting at a community college in houston, texas. there's going to be a news conference from the sheriff there. we'll update you with what is going on. humans. even when we cross our t's and dot our i's, we still run into problems. namely, other humans. at liberty mutual insurance, we understand. that's why our auto policies come with accident forgiveness if you qualify, where your rates won't go up due to your first accident, and new car replacement, where, if you total your new car, we give you the money for a new one. call... to talk to an insurance expert about everything else that comes standard with our base auto policy. and if you get into an accid
on the debt ceiling? the debt ceiling is set to expire, 16.4 trillion. so we need to raise the nation's borrowing limit in one way or another. the republicans don't like the idea of doing that without having commensurate spending cuts. they have a plan to extended until may. and then if the democrats in the senate have not produced a budget that includes spending cuts, they will set aside the pay of members of congress. so it is a tricky maneuver on their part. their goal is to get senate democrats to pass a budget that includes spending reductions. the senate has not been able to pass a budget for the past four years. democrats will resist the idea of any kind of spending cuts. it's going to be a real face-off between the two party is over the debt limit. tomorrow we will get a good look at that legislation. host: senate democrats have said they will pass. a pass guest: but it may not include spending cuts republicans are looking for. it's not necessarily an agreement. it might seem so on the surface. host: larry in san diego, democratic caller. welcome to the conversation. caller: t
ellen kullman will join us first on cnbc. >>> house republicans seeking to extend the debt ceiling and fight another day. >> better luck next time. oh, sure you can't win them all, you know. >> if the bill passes march 1st becomes the new deadline to watch. that's when drastic spending cuts are set to kick in automatically, unless a debt agreement is reached. we'll ask the ceo of cowan and company if the delay would help or hurt the market? the third hour of "squawk box" begins right now. >> welcome back to "squawk box" here on cnbc first in business worldwide. i'm joe kernen along with becky quick. andrew ross sorkin is on assignment in, i think it's davos. isn't it? >> davos is how they say it. we say davos. >> they say davos? oh, never mind. he's in davos. he will join us tomorrow with the latest from the world economic forum when becky goes over there she gets stockholm syndrome so badly. >> that's why you won't let me go anymore. >> and sorkin is already basically a socialist, so being over in europe, he's going to end up, who knows, maybe he will actually be, could it be -- i
they sent us a debt ceiling with not tied said entitlement cuts and dollar for dollar. so that is a big step in the right direction. the other stuff on it, going to be the spokesperson on that for the next 24 hours or so. we will see how she wants to proceed. she is an experienced legislator , chairman of the super committee. i have great faith in her. >> the counterparts in the department. newspapers across the country. a liberal speech. a liberal agenda directed at the center right. >> a liberal speech. i really don't know what that means. i listened to the speech. so cold. it was i sister did. i thought it was a really good speech. people can criticize about a lot of things, but not the ability to communicate. i think he communicated the american people the message of hope, the message of action. i liked it very much. we should move past the name-calling face. one last question over here. i have had some meetings with senator mcconnell bought for the recess, during the recess. our staff work on this. we had another meeting today. i hope within the next 44-36 hours we can get something tha
Search Results 0 to 30 of about 31 (some duplicates have been removed)